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Top related persons:
Temu - 1 Xiaoyan Wang - 1 Chavi Mehta - 1 Shilpi Majumdar - 1 Mark Potter - 1
Top related locs:
China United States Europe East Asia Australia Bengaluru Shanghai
Top related orgs:
PDD Holdings - 1 Pinduoduo - 1 East - 1 Alibaba - 1 HK - 1 Casey Hall - 1 Thomson - 1

Search resuls for: "Xiaoyan Wang"


2 mentions found


☆ China's PDD beats estimates as online discounter Temu booms
  + stars: | 2023-11-28 | by ( Chavi Mehta Casey Hall | Chavi Mehta | Casey Hall | ) www.reuters.com   time to read: +2 min
Analysts expect Temu, launched in September last year, to generate more than $16 billion in revenue this year. Chinese retail sales in September rose 5.5%, following 4.6% growth in August. PDD's revenue was 68.84 billion yuan ($9.62 billion) in the quarter ended Sept. 30, compared with analysts' average estimate of 54.59 billion yuan, according to LSEG data. The company's net income attributable to ordinary shareholders rose to 15.54 billion yuan in the third quarter, from 10.59 billion yuan a year earlier. ($1 = 7.1532 Chinese yuan renminbi)Reporting by Chavi Mehta in Bengaluru and Casey Hall in Shanghai; Editing by Shilpi Majumdar and Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: Temu, Xiaoyan Wang, Chavi Mehta, Shilpi Majumdar, Mark Potter Organizations: PDD Holdings, Pinduoduo, East, Alibaba, HK, Casey Hall, Thomson Locations: China, United States, Europe, East Asia, Australia, Bengaluru, Shanghai
☆ Alibaba's Hong Kong shares slump on SoftBank's stake sale report
  + stars: | 2023-04-13 | by ( Kiyoshi Takenaka Ankur Banerjee | Kiyoshi Takenaka | Ankur Banerjee | ) www.reuters.com   time to read: +5 min
Alibaba, one of the most valuable assets in SoftBank's portfolio, tumbled as much as 5.2% in Hong Kong and closed down about 2%. On Wednesday, the FT said forward sales based on filings at the U.S. Securities and Exchange Commission showed SoftBank's Alibaba stake would eventually fall to 3.8% from almost 15%. The Japanese group, led by billionaire founder Masayoshi Son, has sold about $7.2 billion worth of Alibaba shares this year through prepaid forward contracts, the newspaper said. "It is well within the realms of expectations that the proportion of Chinese shares among its total investment will shrink further." In New York, Alibaba's shares were up 3% as analysts noted that the stake sale was more due to SoftBank's circumstances.
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